Cholamandalam Investment rallies 15% in two days on strong Q2 results

The company reported 16 per cent year-on-year growth in its assets under management (AUM) at Rs 74,471 crore.

Shares of Cholamandalam Investment and Finance Company moved higher by 12 per cent to Rs 280 on the BSE on Friday, thereby surging 15 per cent in two days after the company reported better-than-expected results for the quarter ended September 2020 (Q2FY21).

The company’s profit after tax (PAT) increased 41 per cent at Rs 432 crore on improvement in net income margin and lower operational expenses. It had posted a profit of Rs 307 crore in the corresponding quarter of previous fiscal.

The non-banking housing company reported 16 per cent year-on-year (YoY) growth in its assets under management (AUM) at Rs 74,471